Governor of the Bank of Mozambique launches 5th edition of the regulatory sandbox for fintechs

On Friday morning (26), the Governor of the Bank of Mozambique, Rogério Zandamela, inaugurated the 5th edition of the Regulatory Sandbox at a ceremony held on the premises of the Sandbox itself.

During the event, Zandamela congratulated the five fintechs approved in this edition, which include a financial intermediation platform, two payment aggregators and two platforms for managing savings groups and revolving credit. He also expressed words of encouragement for the three companies that did not meet the necessary requirements to advance, encouraging them to participate in future editions.

The Governor stressed the importance of the project in responding to the challenges brought about by technological innovation in the financial sector, while maintaining a balance with issues such as financial stability, consumer protection and market conduct.

Carlos Mondle, vice-president of the Association of Fintechs of Mozambique, was optimistic about the results of the previous edition and the potential of fintechs to bring disruptive solutions to the financial system in 2024.

Teotónio Comiche, president of the Mozambican Banking Association (AMB), praised the Bank of Mozambique’s initiative and expressed his desire to see a specific Sandbox for the capital and insurance markets in future editions.

At the event, the fintechs approved in the 4th edition received certificates of participation from Rogério Zandamela, and are now able to obtain licenses from the Bank of Mozambique to offer their products on the market. The companies Tablu Tecnologias, Hivieoline, Tesy Investments, Volet and Speranza were the winners.

The Regulatory Sandbox is part of the implementation of the National Financial Inclusion Strategy (2016-2022), which aims to increase access to and use of financial services by the Mozambican population.

The event was attended by members of the Board of Directors of Banco de Moçambique, the Regulatory Sandbox Project Monitoring Committee, as well as project partners, representatives of financial institutions and members of the participating fintechs.